USCPA每日一练之AUD【2015-10-27】

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　　Auditors desired to test credit approval on 10,000 sales invoices processed during the year. The auditor designed a statistical sample that would provide 1% risk of assessing control risk too low (99% confidence) that not more than 7% of the sales invoices lacked approval. The auditor estimated from previous experience that about 2.5% of the sales invoices lacked approval. A sample of 200 invoices was examined and 7 of them were lacking approval. The auditor then determined the upper deviation rate to be 8%.The allowance for sampling risk was:

　　a.3.5%

　　b.5.5%

　　c.4.5%

　　d.1%

　　Answer:C

　　Choice "C" is correct. The allowance for sampling risk is the excess of the 8% upper deviation rate over the 3.5% (÷ 200) sample deviation rate, or 4.5%.

　　Choices "b", "a", and "d" are incorrect, based on the above explanation.

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